PMI's Lowering Your Down Payment
Mortgage insurance (MI) allows you to choose from a wider price range of homes. How? Lenders are generally willing to accept a lower down payment than the standard 20% if the lender obtains mortgage insurance on your loan through a mortgage insurance company.
You can not only get the home you deserve, but you can conserve your savings and increase your income tax deductions, just by putting less money down.
You can afford more home and maximize your investment if your lender obtains MI for your loan.
The lower the down payment, the more you retain for home furnishings, other investments, future emergencies, or even college tuition.
A larger loan amount will have higher interest payments and could result in higher tax deductions.
Mortgage interest is one of the few remaining consumer debt items that you can deduct.